Auction Property 2 Bed Mixed Use 

Front Street, Arnold, Nottingham

Photos

Arrange viewing Make pre-auction Offer

Features

  • Auction Date: 20th & 21st November 2019
  • Mixed use investment opportunity
  • Requires minor refurbishment.
  • Separate access to first floor accommodation
  • Total potential income of £21,000 per annum
  • Potential gross yield of 16.8%
  • Prominent town centre location
  • Excellent transport links
  • Nearby Occupiers: Asda Superstore, Lloyds Bank & Boots
  • On street parking

Quick Details

2 Bedrooms1 Reception1 Bathroom

Address

150 Front StreetArnoldNottinghamNottinghamshireNG5 7EG
Details
EPC
Map
Viewing | Pre-auction Offer

Property Details

•For Sale By Online Auction: 20th & 21st November 2019
•Guide Price: £125,000+
•Vacant mixed use retail and residential property – Potential gross yield of 16.8%
•Excellent investment potential
•Some modernisation works required
•Opportunity to add value
•Potential Income: £21,000 per annum after minor works

•For Sale By Online Auction: 23rd & 24th October 2019
•Guide Price: £125,000+
•Vacant mixed use retail and residential property - Potential gross yield of 16.8%
•Excellent investment potential
•Modernisation and maintenance works required
•Opportunity to add value
•Potential Income: £21,000 per annum after works

A rare opportunity to purchase a mixed-use property within the busy town centre of Arnold, Nottingham. The accommodation is arranged over ground and first floors; including a ground floor retail unit requiring some refurbishment, and a two-bedroom flat to the first floor with separate entrance to the rear.

The ground floor shop was previously used as a newsagent with the benefit of metal roller shutters to the front of the property. There is tiled flooring, a counter and shelving within the retail premises. There are also two storage areas to the ground floor.

The rear of the property provides access to both the ground floor shop and first floor flat. The first floor comprises a hallway leading to a spacious lounge, kitchen, two good-sized bedrooms and a bathroom. The kitchen benefits from a range of fitted units, integrated oven with fan extractor and stainless-steel sink.

Externally, the property benefits from UPVC double glazed windows to the front elevation. The property also benefits restricted on street customer parking to the shop frontage and space for vehicles at the rear.

Accommodation

Ground Floor Retail:
Retail unit – 5.50 x 10.50 m
Rear storage – 1.61 x 3.53 m
Second rear storage – 3.30 x 2.47 m
Total – 71.58 sq m (770 sq ft)

First Floor Residential:
Hallway – 3.44 x 2.12 m
Living room – 5.04 x 5.46 m
Kitchen – 2.89 x 2.41 m
Bedroom 1 – 3.33 x 2.35 m
Bedroom 2 – 3.94 x 3.32 m
Bathroom – 2.21 x 2.84 m
Total = 68.95 sq m (742 sq ft)

Services

We understand the property to have mains electricity, water and drainage.

Tenure

Freehold with vacant possession.

Investment Analysis

Following a program of minor refurbishment, we envisage the ground floor retail unit to generate an income of £1,250 pcm (15,000 per annum), and the flat to let at £500 pcm (£6,000 per annum). This equates to a total potential income of £21,000 per annum, representing a potential gross yield of 16.8%, based on the guide price.

Guide Price

£125,000+

Buyer’s Premium

2% (min. £3,600) inc. VAT

Viewings

Viewings by appointment only. Please contact John Pye Property on 0115 970 6060 or email property@johnpye.co.uk to arrange an appointment.

Sell Your Property

If you are thinking of selling your property, contact us now for a free appraisal and benefit from:

•0% Seller Fee
•£0 Entry Fee
•£0 Marketing Costs
•20 Working Day Completion
•Monthly auctions

Energy Performance Certificates

Location Map

Viewing | Make Pre-auction Offer

Contact Details:

Your message has been sent.